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Wednesday, 22 June 11
BOOMING INDONESIAN COAL EXPORTS - BLEEDING INDIAN POWER INDUSTRY
 COALspot.com - Indonesia shipped 28.962 Million tons of coal in May 2011, up by 15.86 percent compared to April export of about 24.995 million tons, Indonesian coal industry sources said. 56.30 percent up year-to year.
China's Indonesian coal imports have jumped up drastically in May by 2.105 MMt compared to its April imports. Chinese coal imports from Indonesia in May was higher than India's imports from Indonesia. India has imported 6.368 million tons in May where’s China has imported about 8.21 MMt which was 1.841 million MT higher.
India has lost its largest Indonesian coal importer status to China first time in the last five months. India was the largest Indonesian coal importer since January 2011 followed by China and other Asian countries. China is expected to import more coal in this month and coming months to increase energy supplies to prevent a worsening of its summer power shortage in seven years.
According to analyst, China faces a power shortfall, and that may extend to 40GW this northern summer, surpassing its 2004 power shortfall. China’s benchmark power-station coal prices rose to the highest since October 2008 as summer electricity demand increased in the world’s fastest-growing major economy, as quoted by Bloomberg its report early this week.
According to Indian coal minister, Indian coal imports may be at 250 million tons per annum by 2016. Coal imports is unavoidable option for Indian utilities due to non availability of economically viable coal from domestic mines. However, according to Indian UMPPs, due to Indonesian government regulation that forces all coal producers must sell coal at government declared monthly prices, would cost them at least US$ 30 per ton higher than they previously budgeted.
"Implementation of this proposed new rule by the Indonesian government ( I.e., the law mandates all coal producers to sell coal at government declared prices) will adversely impact all existing and future imported coal-based power plants in India, including UMPPs," Ashok Khurana, the Director General of the Association of Power Producers, said as reported by an Indian paper.
“When Indian companies invest in Indonesia, they tend to have the intent to sell coal at cost, so that Indonesian business unit remained at no or negligible profits. Taking a holistic view, however, the cash flows in an integrated Indonesian coal mining and Indian power generation unit after this regulation will continue to be similar, except that income taxes will be paid in Indonesia, and the cash flows will need to be brought on the books on Indian power project after paying taxes in Indonesia through appropriate and innovative business structuring,” said Dipesh Dipu, director, at Deloitte, mydigitalfc reported.
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Indonesia has introduced bench mark pricing mechanism for its coal since February 2010, and it has implemented for the domestic supplies as well export market. The pricing was done on very transparent way using four internationally acceptable coal indices to generate monthly Indonesian coal reference prices for about 62 types of coal including 8 types of bench mark qualities.
The regulation also requires miners to report sales volumes, prices, and buyers every month to the government, allowing it to ensure that the rules are being followed. Violations can lead to revocation of mining permits. The price benchmark aims to prevent firms selling coal to affiliates at low prices to avoid taxes that hurts Indonesia's efforts to collect revenues from its massive commodity exports.
Ministry of Energy and Mineral Resources of Indonesia has set the June 2011 Indonesian Coal Reference Price for thermal coal at US$ 119.03 per ton per ton, which was 1.20 percent higher than May 2011 price of US$ US$ 117.61. Assessment basis of coal price reference was calculated considering coal with GCV (GAR) 6,322 kcal/kg, Total Moisture (arb) 8.00%, Total Sulphur (arb) 0.8%, Ash Content (arb) 15.00% and delivery free on Board (FOB) Vessel basis and applicable for spot contract, delivery between 1 – 30 June 2011.
Indonesian bituminous coal of 5,500 kcal/kg NAR was offered at between $ 108 - 110 a ton, FOB vessel basis this week, slightly up from last week price, traders said.
According to Indian power industry sources opined that Indian UMPPs ( ultra-mega power project) suddenly caught in between as the concept of UMPP was implemented 4 to 5 years back. The large scale industrial houses in India have bided and secured UMPP licenses based on the open market prices /long term coal contracts from Indonesian producers (I.e., pre regulated Indonesian market). Now that Indonesian coal reference price mechanism is in place all the UMPP's are seeking Indian government’s assistance in revising the Power Tariff of UMPP.
Now, the bankers who have funded the projects are bit worried about the rising Indonesian coal costs versus the power sales price which was pegged at pre-regulation prices, Indian banking industry sources said. Now, we need to see whether Indian Government allows the UMPPs to revise the power sale prices based on Indonesian coal reference price mechanism.
As such India cement and steel industries were used to buy coal from South Africa and Australia on index base pricing mechanism since last four to five years. in view of the attractive profit margin levels, entire Indonesian coal producers migrated to Index based pricing for coal contracts . “Where's still many of the Indian utilities and private consumers are still procuring the coal on firm delivered basis. This concept is creating lot of confusion in the Indian trade circles” an Indian trader commented.
77.12 percent of total coal exports in May goes to China, India, South Korea, Japan and Taiwan respectively.
The coal export information within this article is provided by coalspot.com on an "as is" and "as available” basis. All details about, given in good faith, without guarantee. While every care has been taken to ensure the accuracy of information furnished in this article. COALspot.com shall be obliged if errors / omissions are brought to its notice for carrying out corrections in this article.
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Monday, 02 August 10
LINC, ADANI COMPLETE THEIR COAL CONNECTION
"THE much-speculated deal between underground coal gasification company Linc Energy and India's Adani Enterprises is set to be signed tomorrow ...
Saturday, 31 July 10
TABONEO ANCHORAGE TO LOAD 1.5 MLN TON OR MORE COAL IN H1 AUGUST
COALspot.com: Eighty five ocean going vessels and barges have been nominated by coal buyers to their respective suppliers in Indonesia to load about ...
Saturday, 31 July 10
SEEMS THE FREIGHT MARKET WOULD BE FAIRLY STABLE FOR H2 2010 - VISTAAR
COALspot.com: The BDI continued moving up since 16th July and rise by 14 pct almost touching 2000 points.
The BDI was up by 7.72 pct last week wh ...
Friday, 30 July 10
DRY BULK MARKET BACK ON THE ROAD TO RECOVERY
Freight rates for dry bulk carriers have continued to edge higher this week, with the industry’s main benchmark, the Baltic Dry Index (BDI) ga ...
Thursday, 29 July 10
GOVT TOO OPTIMISTIC ON IRON, COAL PRICE
Federal government forecasts of continued strength in iron ore and coal prices, which underpin revenue expectations for the proposed new mining tax, ...
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- Kepco SPC Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Maheswari Brothers Coal Limited - India
- Wood Mackenzie - Singapore
- Electricity Generating Authority of Thailand
- Grasim Industreis Ltd - India
- Merrill Lynch Commodities Europe
- Jaiprakash Power Ventures ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wilmar Investment Holdings
- Krishnapatnam Port Company Ltd. - India
- Banpu Public Company Limited - Thailand
- Ind-Barath Power Infra Limited - India
- Port Waratah Coal Services - Australia
- PowerSource Philippines DevCo
- Salva Resources Pvt Ltd - India
- GMR Energy Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ambuja Cements Ltd - India
- Agrawal Coal Company - India
- Aboitiz Power Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Rashtriya Ispat Nigam Limited - India
- ICICI Bank Limited - India
- Bhatia International Limited - India
- Chettinad Cement Corporation Ltd - India
- Africa Commodities Group - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Sojitz Corporation - Japan
- Gujarat Mineral Development Corp Ltd - India
- Carbofer General Trading SA - India
- Larsen & Toubro Limited - India
- GVK Power & Infra Limited - India
- Altura Mining Limited, Indonesia
- IEA Clean Coal Centre - UK
- Meenaskhi Energy Private Limited - India
- Pendopo Energi Batubara - Indonesia
- TeaM Sual Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Cigading International Bulk Terminal - Indonesia
- Videocon Industries ltd - India
- Interocean Group of Companies - India
- South Luzon Thermal Energy Corporation
- Tamil Nadu electricity Board
- Metalloyd Limited - United Kingdom
- PNOC Exploration Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Meralco Power Generation, Philippines
- Binh Thuan Hamico - Vietnam
- Energy Link Ltd, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Siam City Cement - Thailand
- Bayan Resources Tbk. - Indonesia
- Global Green Power PLC Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- GN Power Mariveles Coal Plant, Philippines
- Petron Corporation, Philippines
- Lanco Infratech Ltd - India
- Eastern Coal Council - USA
- Malabar Cements Ltd - India
- Independent Power Producers Association of India
- Georgia Ports Authority, United States
- Cement Manufacturers Association - India
- Directorate General of MIneral and Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Singapore Mercantile Exchange
- White Energy Company Limited
- Thiess Contractors Indonesia
- Holcim Trading Pte Ltd - Singapore
- Madhucon Powers Ltd - India
- Posco Energy - South Korea
- Goldman Sachs - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Bhushan Steel Limited - India
- Heidelberg Cement - Germany
- The Treasury - Australian Government
- PTC India Limited - India
- Orica Mining Services - Indonesia
- Intertek Mineral Services - Indonesia
- Parliament of New Zealand
- The University of Queensland
- VISA Power Limited - India
- Romanian Commodities Exchange
- Formosa Plastics Group - Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Samtan Co., Ltd - South Korea
- CNBM International Corporation - China
- Tata Chemicals Ltd - India
- Vizag Seaport Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Dalmia Cement Bharat India
- OPG Power Generation Pvt Ltd - India
- Energy Development Corp, Philippines
- Coal and Oil Company - UAE
- Iligan Light & Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Makarim & Taira - Indonesia
- Power Finance Corporation Ltd., India
- Savvy Resources Ltd - HongKong
- Mintek Dendrill Indonesia
- Indika Energy - Indonesia
- Commonwealth Bank - Australia
- Karaikal Port Pvt Ltd - India
- Latin American Coal - Colombia
- Trasteel International SA, Italy
- Miang Besar Coal Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Minerals Council of Australia
- Therma Luzon, Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Renaissance Capital - South Africa
- India Bulls Power Limited - India
- Mercator Lines Limited - India
- Directorate Of Revenue Intelligence - India
- Vedanta Resources Plc - India
- Bahari Cakrawala Sebuku - Indonesia
- SMC Global Power, Philippines
- Parry Sugars Refinery, India
- Kartika Selabumi Mining - Indonesia
- Aditya Birla Group - India
- European Bulk Services B.V. - Netherlands
- CIMB Investment Bank - Malaysia
- Eastern Energy - Thailand
- San Jose City I Power Corp, Philippines
- Bulk Trading Sa - Switzerland
- Semirara Mining Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Bukit Baiduri Energy - Indonesia
- Bharathi Cement Corporation - India
- Manunggal Multi Energi - Indonesia
- Indonesian Coal Mining Association
- Baramulti Group, Indonesia
- Straits Asia Resources Limited - Singapore
- Bukit Makmur.PT - Indonesia
- Bangladesh Power Developement Board
- Sarangani Energy Corporation, Philippines
- Xindia Steels Limited - India
- Attock Cement Pakistan Limited
- Ministry of Mines - Canada
- Sinarmas Energy and Mining - Indonesia
- Gujarat Sidhee Cement - India
- McConnell Dowell - Australia
- Jorong Barutama Greston.PT - Indonesia
- ASAPP Information Group - India
- Thai Mozambique Logistica
- Indian Oil Corporation Limited
- Economic Council, Georgia
- Standard Chartered Bank - UAE
- Ministry of Transport, Egypt
- Barasentosa Lestari - Indonesia
- SMG Consultants - Indonesia
- MS Steel International - UAE
- Price Waterhouse Coopers - Russia
- Kalimantan Lumbung Energi - Indonesia
- Electricity Authority, New Zealand
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Business Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- PetroVietnam Power Coal Import and Supply Company
- Indogreen Group - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement PLC, Thailand
- Rio Tinto Coal - Australia
- The State Trading Corporation of India Ltd
- Kideco Jaya Agung - Indonesia
- Essar Steel Hazira Ltd - India
- Sakthi Sugars Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Anglo American - United Kingdom
- Marubeni Corporation - India
- Australian Coal Association
- Karbindo Abesyapradhi - Indoneisa
- Indo Tambangraya Megah - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Uttam Galva Steels Limited - India
- Oldendorff Carriers - Singapore
- GAC Shipping (India) Pvt Ltd
- Gujarat Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Ministry of Finance - Indonesia
- Global Coal Blending Company Limited - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- Chamber of Mines of South Africa
- Mjunction Services Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Electricity Authority - India
- Kapuas Tunggal Persada - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Java Power - Indonesia
- Star Paper Mills Limited - India
- London Commodity Brokers - England
- Mercuria Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Kumho Petrochemical, South Korea
- SN Aboitiz Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Deloitte Consulting - India
- Bhoruka Overseas - Indonesia
- Indian Energy Exchange, India
- Edison Trading Spa - Italy
- LBH Netherlands Bv - Netherlands
- Sical Logistics Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Neyveli Lignite Corporation Ltd, - India
- Planning Commission, India
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